Botulinum Toxin Market Size, Share & COVID-19 Impact Analysis, By Application (Therapeutic {Chronic Migraine, Spasticity, Overactive Bladder, Cervical Dystonia, Blepharospasm, and Others} and Aesthetics), By Type (Botulinum Toxin Type A and Botulinum Toxin Type B), By End-user (Specialty & Dermatology Clinics, Hospitals & Clinics, and Others), and Regional Forecast, 2023-2030

The global botulinum toxin market size was valued at USD 7.23 billion in 2022 and is projected to reach USD 10.62 billion by 2030, exhibiting a CAGR of 5.1% during the forecast period. Botulinum toxin is a neurotoxin produced by Clostridium botulinum, a gram-positive anaerobic bacterium. The product can be broken into seven neurotoxins, which are antigenically and serologically different but structurally similar. Type A and B are the currently only commercially available forms. These products are currently used to manage various medical conditions and aesthetic procedures.

In the current scenario, there is a high demand for these non-invasive cosmetic procedures. New product launches, increasing affordability, and amendments in reimbursement policies to cover these products for therapeutic use drive the market's growth. In response to this positive growth trend, leading players in this market focus on constant innovation and upgrades of their product portfolio for better aesthetics and improved patient therapeutic outcomes. For instance, in April 2022, AbbVie Inc. conducted a clinical trial to evaluate the safety and efficacy of botulinum toxin type A (AGN-151607) injections to prevent post-operative atrial fibrillation in patients who undergo open-chest cardiac surgery.

Moreover, with the increasing importance and demand for aesthetic beauty, coupled with the increase in disposable income globally, the usage of these products has risen. Initiatives by key players to increase product awareness and adoption are also likely to propel the global botulinum toxin market growth during the forecast period.

COVID-19 IMPACT

Decline in Demand for Cosmetic Procedures during Pandemic Negatively Impacted Market Growth

The COVID-19 pandemic significantly impacted the healthcare sector, as it was the core of this global pandemic. It negatively impacted the global market. A critical factor that led to the negative impact was the decrease in adopting cosmetic procedures amongst individuals. The closure of dermatology clinics due to the lockdown and the fear of contracting the virus among individuals led to a lower number of procedures. Furthermore, implementing COVID-19 protocols, such as social distancing and cancellation of elective procedures by regulatory authorities, also contributed to the market's decline. For example, according to the International Society of Aesthetic Plastic Surgery (ISAPS), a drop of 0.9% was witnessed in the number of these procedures across the globe.

Major players in the market reported a decline in revenue from neurotoxin preparations in the 2020 financial year. For instance, AbbVie Inc., a strong player in the market, recorded a decrease of 33.1% and 34.8% in revenue in 2020 compared to 2019 for ‘Botox Cosmetic’ and ‘Botox Therapeutic,’ respectively. Other companies, such as Ipsen Pharma, have also reported decline in revenues for these products in 2020 due to treatment centers’ closure. In 2021, the global market witnessed a recovery as dermatology clinics reopened and people again started opting for these procedures. In addition, during the lockdown, people became more conscious about their appearances, which also contributed positively toward the increasing procedure volume. Major companies such as AbbVie Inc. and Ipsen Pharma witnessed growth in their aesthetics portfolio as a surge in demand for their products was witnessed globally. For instance, AbbVie Inc.’s business segments, ‘Botox Cosmetic’ and ‘Botox Therapeutic,’ witnessed an increase of 100.7% and 76.7%, respectively, in 2021 compared to 2020. Moreover, the increased adoption of advanced product offerings and a rise in patient visits have enabled the global market to return to its pre-pandemic growth levels in 2022. It is also expected to attain stable growth during 2023-2030.

LATEST TRENDS

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Increasing Awareness through Promotional Activities by Key Players to Boost Product Adoption

Currently, the key market players are adopting new and improved marketing strategies to increase the global demand for these products among customers. Major players such as AbbVie Inc. and Merz Pharma are adopting marketing techniques to create customer awareness. For instance, in September 2022, Allergan plc (AbbVie Inc.) launched its new ‘’See Yourself’’ campaign. Under the campaign, a content series created captured the inspiring and intimate accounts of people speaking candidly about their motivation for being treated with BOTOX Cosmetic.

Promotional activities by market players using social media platforms such as Instagram and Facebook are also becoming essential marketing tools. According to several cosmetic surgeons, patients across the globe have urged them for procedures that make them more like software filtered themselves. Therefore, initiatives by these major companies to engage with customers by casting celebrities to endorse their products and launch campaigns to address the concerns of common people will lead to the market's growth in the forecast period.

DRIVING FACTORS

Surge in Demand for Non-Invasive Procedures to Boost Market Expansion

The global demand for non-invasive and minimally invasive procedures has surged recently. According to the International Society of Aesthetic and Plastic Surgery (ISAPS), the total number of nonsurgical procedures, including botulinum toxin, hyaluronic acid, and laser hair removal, was estimated to be 17,598,888 in the year 2021. The total number of nonsurgical procedures increased by 19.9% compared to 2020.

Furthermore, according to the International Society of Aesthetic and Plastic Surgery (ISAPS), the total number of botulinum toxin procedures in 2020 increased by 45.3% since 2017. The growth in the number of procedures is due to the sudden shift in people looking for easy, pain-free methods to appear youthful and healthy without facing the problems associated with invasive cosmetic surgeries. The growing demand for these procedures has also led the manufacturers and suppliers of non-invasive cosmetic technology to focus on these products. Due to this, major players have started working toward launching advanced products in the market by either applying for regulatory approval or focusing on R&D activities. For example, in June 2021, GALDERMA announced that Alluzience completed its European decentralized procedure with a favorable decision to be used as the first ready-to-use neuromodulator to improve moderate to severe glabellar lines among patients in the region.

Increasing R&D Initiatives for Expansion of Therapeutic and Aesthetic Applications to Fuel Market Growth

The products are used for both therapeutic as well as aesthetic indications. The dual applicability of the product leads to the rise in demand for these products amongst individuals, thus driving the market's growth. The increasing prevalence of critical and chronic diseases such as spasticity, cervical dystonia, and chronic migraine also fuels the market growth. For instance, according to an article published by Johns Hopkins Medicine, in 2020, over 12 million people worldwide are affected by spasticity, including 80.0% of people suffering from cerebral spasticity and 80.0% of people with multiple sclerosis. Major pharmaceutical companies' growth in research and development initiatives to provide treatment options for such critical diseases also contributed to expand the global market.

Apart from therapeutic applications of these products, they have regulatory approvals to treat aesthetic indications, including forehead lines, crow’s feet, and frown lines. Ongoing clinical trials by key industry players to expand the aesthetic use of their existing products drives the growth of the global market. For example, in July 2022, AbbVie Inc. conducted a study with BOTOX injections to evaluate the changes in disease symptoms in patients with upper limb essential tremors.

RESTRAINING FACTORS

Availability of Counterfeit Products to Restrain Market Growth

In the past decade, these products established a significant position in the global market due to the dual applicability of these products in therapeutics as well as cosmetic procedures. Over the years, the product has proven therapeutically beneficial for children suffering from cerebral palsy and adults suffering from stroke-related conditions. Along with therapeutics, the cosmetic application of neurotoxin is also increasing. However, as the demand for these products surges, the availability of counterfeit products to cater to the increasing demand also increases. The entry of counterfeit products into the market was seen after the branded products were generalized. The use of illegal products by beauticians and the demand for cheap products by customers online have inflicted harm on several individuals.

Counterfeit products duplicate genuine brands by using the same packaging and trademarks. This helps them dupe the customers with the lower prices that they offer. However, the products are unregulated and manufactured illegally, harmful to consumers due to their side effects. To safeguard people from these fake products, the U.S. FDA has also issued several warnings regarding these products. Across the globe, several instances have also been reported where the respective regulatory bodies have seized shipments of counterfeit products to regulate the problem. For example, according to an alert by the World Health Organization (WHO) in August 2022, falsified copies of Ipsen's Dysport have been found in the U.K., Poland, Turkey, Kuwait, and Jordan. The increasing availability of fake products with lower prices might restrain the growth of genuine products as consumers may prefer these products due to lower costs and thus disrupt the revenue of major companies.

SEGMENTATION

By Application Analysis

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Multiple Product Launches in Therapeutics led to the Segment’s Dominance in 2022

Based on application of botulinum toxin, the global market is segmented into therapeutics and aesthetics. The therapeutics segment is further sub-segmented into chronic migraine, spasticity, overactive bladder, cervical dystonia, blepharospasm, and others.

The therapeutics segment dominated the global botulinum toxin market share in 2022. Key market players invest heavily in R&D initiatives to launch products and are focused on getting regulatory approvals for treating diverse diseases. For instance, in December 2022, AbbVie Inc. presented its migraine portfolio and pipeline data at the 16th European Headache Federation Congress 2022 (EHC 2022). The presentation covered 15 abstracts of a wide range of studies, including onabotulinumtoxinA and atogepant data. Hence, the therapeutic applications of botulinum toxin are expected to strongly contribute to the market growth prospects in 2023-2030.

Regarding the therapeutics segment, spasticity holds the largest market share due to the increased prevalence of associated diseases such as multiple sclerosis globally. Similarly, chronic migraine is the second largest sub-segment. The strong global prevalence of this disease fuels its growth. Furthermore, according to a published article, in 2022, the estimated prevalence of cervical dystonia ranges from 5 to 30 cases per 100,000 individuals. The segment is expected to show steady growth prospects in the forecast period.

On the other hand, the increasing demand for minimally invasive procedures and the growing awareness among individuals regarding using these products for aesthetic application are likely to drive the demand for botulinum toxin. For instance, according to the International Society of Aesthetic Plastic Surgery, in 2021, about 7,312,616 cosmetic minimally-invasive botulinum toxin procedures were done globally. A rising number of procedures contributed to expanding the segment’s growth.

By Type Analysis

Backed by a Large Number of Product Approvals, Type A to Dominate the Market

Based on type, the market can be segmented into botulinum toxin type A and botulinum toxin type B. The type A segment held a dominant market share in 2022. The segment is expected to grow with the highest CAGR in the forecast period. The segment's dominance can be attributable to the significant number of product launches. Furthermore, continuous efforts by major players to launch new and advanced type A product also contribute positively toward segment growth. For instance, in September 2022, Revance Therapeutics, Inc. received U.S. FDA approval for DAXXIFY (DaxibotulinumtoxinA-lanm) for injection. It is the first and only peptide-formulated neuromodulator with long-lasting results. Moreover, type A injection is the most common cosmetic procedure performed globally. Surveys from core specialty organizations consistently rank it first on the list of member-reported, nonsurgical methods.

The type B segment is anticipated to expand at a slower growth rate during the forecast period owing to limited product launches and significantly fewer clinical trials being conducted on these products. However, the focus of key stakeholders to expand the therapeutic applications of Myobloc post its strategic acquisition by Supernus Pharmaceuticals, Inc. from the U.S. Worldmeds LLC (USWM, LLC) will contribute toward the segment’s growth.

By End-user Analysis

Prevalence of Aesthetic Problems Globally Enables the Segment’s Dominance

Based on end-user, the market is segmented into specialty & dermatology clinics, hospitals & clinics, and others.

The specialty & dermatology clinics segment accounts for the largest share of the market. A significant proportion of these procedures are being conducted in these clinics compared to hospitals. This is one of the major factors accounting for the segment’s growth. The growing prevalence of aesthetic problems such as frown lines, glabellar lines, and crow’s feet are also expected to favor the segment's expansion.

On the other hand, the hospitals & clinics segment accounted for the second-largest market share in 2022. Substantial procedural volumes for aesthetic and therapeutic applications conducted in hospitals and clinics also lead to the segment’s growth. For instance, according to the American Society for Aesthetic Plastic Surgery, in 2020, out of the total number of cosmetic procedures conducted, 18.0% of them were conducted in hospitals. The others segment is expected to grow slower due to the lower presence of skilled professionals in these settings.

REGIONAL INSIGHTS

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On the basis of region, the global market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

The North America market accounts for the highest share and has reported a revenue of USD 4.77 billion in 2022. The increasing number of product launches, the presence of major companies, and the growing adoption of these procedures among people in the region are the factors that contribute to the region’s growth. For instance, according to the International Society of Aesthetic Plastic Surgery, in 2021, about 2,520,000 botulinum toxin procedures were performed in the U.S. The surge in product launches due to increasing regulatory approvals for therapeutic applications of these products also contributes positively toward the region’s growth.

Europe captured the second-largest market share, attributable to the growing preference for these procedures amongst individuals in key European countries. Furthermore, the rising expenditure on R&D initiatives to launch new products is also one of the significant factors for the growth of the European region. For instance, according to the International Society of Aesthetic Plastic Surgery (ISAPS) (2021), 208,764 nonsurgical cosmetic procedures were performed in Spain, of which 75,348 were botulinum toxin procedures.

The Asia Pacific region is estimated to grow at a higher CAGR than other regions. These procedures are gaining popularity in Asia because of the growing incidence and prevalence of chronic diseases and the increasing number of conscious individuals of their physical appearance. Most of these procedures are conducted in specialty and dermatological clinics, thus driving the segment's growth. Additionally, rising research initiatives to improve patient outcomes favor market growth. According to an article published by Multidisciplinary Digital Publishing Institute (MDPI) in 2022, a cross-sectional survey was conducted to determine the pattern of type A botulinum toxin injection in cosmetic practice, for which an 18-item questionnaire was distributed to dermatologists. The study aimed to make clinicians better understand patients' needs and optimize cosmetic procedures with Botox.

The increasing procedure volume in key Latin American countries such as Brazil will contribute to the region’s growth. The rising trends in adopting these products for aesthetic procedures in the region and the growing awareness among people also contribute to the market growth. For instance, according to the International Society of Aesthetic Plastic Surgery (2021), out of the nonsurgical injectable procedures in Brazil, 49.8% of them were botulinum toxin procedures. In the Middle East & Africa, the number of these procedures is estimated to witness an increase. Growing per capita spending on healthcare and increasing health and beauty standards has contributed to expand the global market.

KEY INDUSTRY PLAYERS

Strong Product Offerings and Global Reach to Enable AbbVie Inc. & Ipsen Pharma to Reach Market Dominance

In terms of the competitive landscape, the market has diverse market players, with companies ranging from large, established players to small and emerging regional players. Regarding the present market scenario, AbbVie Inc. dominates and accounts for a substantial proportion of the market. The company dominates the market due to a strong botulinum toxin product portfolio comprising BOTOX Cosmetic and BOTOX Therapeutic. The diverse applications of the company’s product portfolio, coupled with consistent efforts by the company to engage in clinical trials, also fuel the company’s growth. For instance, in February 2021, the U.S. FDA approved AbbVie Inc.'s Onabotulinumtoxin A in treating detrusor overactivity in pediatric patients aged five or above. This Onabotulinumtoxin had regulatory approval for the treatment of adult detrusor activity previously.

Companies such as Ipsen Pharma and Merz Pharma are engaged in strategic initiatives like new product launches and are focused on getting regulatory approvals to launch their products globally. For instance, in June 2022, Ipsen Pharma announced that Dysport received a positive opinion in Europe for managing urinary incontinence in adults with neurogenic detrusor over activity which can be caused due to a spinal cord injury or due to multiple sclerosis. In addition, other prominent companies such as Medytox, GALDERMA, and HUGEL, Inc. are focused on gaining a substantial share in the market in the forecast period. For instance, HUGEL, Inc. is focused on launching its products in several European countries. Similarly, GALDERMA is concentrating on getting regulatory approvals for their product Dysport in China for treating glabellar lines. These initiatives by the companies will help them maintain their presence in the global market. Regarding upcoming players, Revance Therapeutics Inc. is expected to play a prominent role because of their pipeline candidate of DaxibotulinumtoxinA.

LIST OF KEY COMPANIES PROFILED:

• AbbVie Inc. (U.S.)


• Ipsen Pharma (France)


• Merz Pharma (Germany)


• Medytox (South Korea)


• GALDERMA (Switzerland)


• Lanzhou Institute of Biological Products Co., Ltd. (China)


• HUGEL, Inc. (South Korea)


• Evolus, Inc. (U.S.)


• Revance Therapeutics, Inc. (U.S.)


• Supernus Pharmaceuticals, Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• December 2022: Gufic Biosciences collaborated with the U.S. based Prime Biohas and launched type A injection ‘Zarbot.’


• October 2022: Evolus, Inc. launched commercial operations in Great Britain and shipped the first customer orders for Nuceiva (type A).


• October 2022: Galderma continued its partnership with National Breast Cancer Foundation Inc. (NBCF). In a campaign on Galderma's social channels, they featured the personal stories and treatment journeys of breast cancer survivors who received Restylane, Dysport (abobotulinumtoxinA), and/or Sculptra during Breast Cancer Awareness Month.


• August 2022: Medytox's partnership with Bloomage Biotechnology is terminated. Bloomage Biotechnology stated that Medytox has never provided Medybloom China BTX products for sale since the joint venture agreement was signed.


• April 2022: Medytox Korea, a Medytox subsidiary, announced the completion of the Phase III trial for their next-generation (BTX), MBA-P01.

REPORT COVERAGE

An Infographic Representation of Botulinum Toxin Market

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The global report provides a detailed market analysis. The market research report focuses on key aspects such as the overview of the number of procedures by key countries, the types of these products, regulatory scenarios by key countries, reimbursement scenarios by key countries, and pipeline analysis. Additionally, it includes an overview of new product launches/approvals and the impact of COVID-19 on the global market, an overview of the application of these products in therapeutics and recent regulatory approvals and key industry developments. Besides these, the report offers insights into market trends and highlights vital strategies by market players. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the market's growth in recent years.

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